Oakworth Capital Inc. Makes New Investment in Jabil Inc. (NYSE:JBL)

Oakworth Capital Inc. purchased a new stake in Jabil Inc. (NYSE:JBL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,695 shares of the technology company’s stock, valued at approximately $184,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JBL. Norges Bank acquired a new stake in Jabil during the fourth quarter worth approximately $192,964,000. Vanguard Group Inc. grew its stake in shares of Jabil by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after acquiring an additional 1,427,429 shares during the period. Artisan Partners Limited Partnership increased its holdings in Jabil by 36.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after acquiring an additional 359,818 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Jabil in the 1st quarter valued at approximately $39,040,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Jabil by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock worth $141,577,000 after purchasing an additional 249,889 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Down 0.7 %

Shares of Jabil stock traded down $0.73 during trading hours on Friday, hitting $106.35. The company had a trading volume of 794,991 shares, compared to its average volume of 1,466,096. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company’s 50-day moving average is $111.10 and its two-hundred day moving average is $123.28. The company has a market cap of $12.06 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS. Analysts anticipate that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. Jabil’s dividend payout ratio is presently 2.91%.

Insider Transactions at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the sale, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on JBL shares. Barclays reduced their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Bank of America reduced their target price on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. UBS Group lowered their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.63.

Jabil Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).